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If I want to reserve a property, how much do I need to deposit as a down payment?

If you want to reserve a property, you generally need to make a down payment of about 10% of the property's price for the secondary market. However, if you're buying property from a developer, the initial deposit usually ranges from 6,000 to 12,000 euros. Nevertheless, the final amount can vary depending on the terms offered by a specific developer or seller.

Is it true that in Spain it is possible to obtain a mortgage of up to 80-90% of the value of the property?

Indeed, residents of Spain and EU citizens can obtain a mortgage loan of up to 80%. More is possible, but in exceptional situations. Non-residents of Spain can count on a mortgage of up to 60-70%. It is up to the bank to decide. Estate agencies and property companies can not influence or change its decision, and even more so they can not guarantee it. Our company will help you choose the best credit program and arrange documents for obtaining a mortgage loan. Among our partners only trusted Spanish banks: Sabadell, La Caixa, Santander, BBVA.

I plan to buy property in Spain. What documents do I need to prepare for this?

To buy a property in Spain, you will typically need the following documents:

  • Your passport or any other identity document.
  • NIE (Número de Identificación de Extranjero) - Foreigner Identification Number.
  • Proof of financial solvency (e.g., income statement or bank statement).
  • If you are taking a mortgage, you may also need a property appraisal.
Expenses when purchasing a property in Spain

In addition to the property cost itself, when buying a property in Spain you should consider the following costs:

  • Property transfer tax (ITP) – from 6% to 10%, depending on the region.
  • Notary and registration fees – usually about 1-2% of the property price.
  • Legal assistance costs – usually 1-2% of the property price.
  • If you are taking a mortgage, you may need to pay a bank commission.
"Golden visa" in Spain - the fastest way to get a residence permit for non-EU residents

The Golden Visa is a special program for investors that grants residency rights in Spain and freedom of movement within the Schengen Agreement countries. To get this visa, you need to invest at least 500,000 euros in property in Spain.

Mortgage for non-residents to buy property in Spain

Banks in Spain offer mortgage loans to non-residents for buying property. Typically, their terms include financing up to 70-80% of the property price for up to 25-30 years. However, each bank has its own terms and requirements, so it is recommended to consult with several banks to find the most suitable conditions.

I want to buy a house in Spain, but I'm afraid there might be debts or hidden owners might appear after purchase. How to check the property?

To check the property in Spain, you can request a Nota Simple, a document that contains detailed information about the property, including the current owner, any liens, charges, or restrictions. This document can be obtained from the Property Register (Registro de la Propiedad).

Nota Simple – what is it? Why do I need to get it if I'm going to buy a property in Spain?

Nota Simple is an official document that contains information about a property, including the description of the property, information about the owner, as well as information about any mortgages, liens, or pledges. This document is necessary to check the legal cleanliness of the object and the absence of hidden obligations.

Do I need to pay taxes in Spain if I sold the property?

Yes, when selling property in Spain, you need to pay a capital gain tax (Plusvalía). The tax amount depends on the sale price and the time of property ownership. If you are a non-resident of Spain, you will also need to pay 3% of the sale price as a security for potential tax liabilities.

La escritura publica: what should I know?

"Escritura Publica" is an official document confirming the transfer of property rights in Spain. This document is signed in the presence of a notary and then registered in the Property Register. It contains a detailed description of the property, data about both parties of the transaction, the purchase price, and any information about the mortgage, if any.

NIE when buying a property and not only

NIE (Número de Identificación de Extranjero) is an identification number for foreigners in Spain. It is necessary for carrying out most legal transactions in Spain, including buying property, opening a bank account, connecting utilities, etc.

Taxation of non-residents in Spain when buying property

When buying property in Spain, non-residents are required to pay property transfer tax (ITP), which is from 6% to 10% of the property price, depending on the region. Additionally, each year you will need to pay property tax (IBI) and non-resident income tax (IRNR).

Euribor - what is it?

Euribor (Euro Interbank Offered Rate) is the base interest rate at which banks in the eurozone lend to each other. This rate is often used as the basis for determining mortgage interest rates in Spain and other EU countries.

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